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<!DOCTYPE html>
<html lang="en">
<head>
<meta charset="utf-8" />
<meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no" />
<meta name="description" content="" />
<meta name="author" content="Sologenic Development Foundation" />
<title>Sologenic - XLS-14d/SOLO</title>
<link href="assets/css/bootstrap.min.css" rel="stylesheet" />
<link href="assets/css/styles.css" rel="stylesheet" />
</head>
<body>
<nav class="navbar navbar-expand-md fixed-top" style="margin-top: 0px;">
<a href="https://sologenic.org"><img src="assets/images/logo.png" /></a>
</nav>
<main role="main" class="container with-disclaimer">
<div class="content">
<h1>XLS-14d/SOLO NFT Standard</h1>
<br />
</div>
<h5>Non-Fungible Tokens (NFT)</h5>
<p>
A non-fungible token (NFT) is a token on the Blockchain to represent unique items such as art and
collectibles. Each NFT is unique and has different properties that distinguishes it from other NFTs. Unlike
cryptocurrencies such as Bitcoin, NFTs are not interchangeable and are indivisible. And NFT is traded as a
whole and fractional exchanges such as in other cryptocurrencies are not allowed.
</p>
<br />
<h5>XRP Ledger (XRP)</h5>
<p>
The XRP Ledger (XRPL) is a decentralized, public blockchain led by a global community of developers.
</p>
<p>
It’s fast, energy efficient, and reliable. With ease of development, low transaction costs, and a
knowledgeable community, it provides developers with a strong open-source foundation for executing on the
most demanding projects—without hurting the environment.
</p>
<p>
XRPL uses a consensus protocol, in which designated servers called validators come to an agreement on the
order
and outcome of XRP transactions every 3-5 seconds.
</p>
<p>
All servers in the network process each transaction according to the same rules, and any transaction that
follows the protocol is confirmed right away. All transactions are public, with strong cryptography to
guarantee
the integrity of the system.</p>
<p>
Anyone can operate a validator; currently, over 150 validators are active on the ledger, operated by
universities, exchanges, businesses, and individuals. Additionally, the consensus protocol ensures the
blockchain becomes more decentralized over time as the validator pool grows.
</p>
<br />
<h5>XRP Ledger Issued Tokens</h5>
<div>
<p>
The XRP Ledger Blockchain provides a way for any currencies to be issued on the network using IOUs. This
feature allows users to issue tokens that can be exchanged on the network through transfers or the
built-in Decentralized Exchange on the XRPL.
</p>
<p>
While the token issuance on the XRP Ledger works really well for issued crypto currencies such as SOLO
out of the box, it needs to be tweaked to be used for indivisible assets such as NFTs.
</p>
<p>
The XRP Ledger has an issued token precision of 15 significant figures. The smallest amount of an issued
token the XRPL can handle is 1000000000000000e-96. That means for a token to be indivisible, the issuer
must only create 1000000000000000e-96 of the token to represent an NFT.
</p>
</div>
<br />
<h5>XLS-14d</h5>
<div>
<p>
Full details: <a
href="https://github.com/XRPLF/XRPL-Standards/discussions/30">https://github.com/XRPLF/XRPL-Standards/discussions/30</a>
</p>
<p>
The XLS-14d proposal originally by Wietse Wind from the XRP Ledger developer community introduced a set
of standards to be followed for NFTs issuances.
</p>
<p>
This proposal has been welcomed by the community as a way to issue NFTs on the XRP Ledger, but since the
underlying technology is not built for NFT use-cases, it lacks some features and makes the overall
minting a complicated process.
</p>
</div>
<br />
<h5>XLS-14d/SOLO variation</h5>
<div>
<p>
The SOLO variation of the XLS-14d follows many aspects of the original XLS-14d but tearts an XRP address
as a “collection” that can hold many NFTs within it.
</p>
<p>
This allows users to mint a collection of NFTs using only 1 account, thus reducing multiple account
activation fees.
</p>
<p>
Sologenic NFT Marketplace is made up of 2 components. A Backend component that is responsible for
minting NFTs on user’s behalf, indexing data directly from the ledger and the Frontend, which is
connected to the ledger and the API data provided by the backend. Together these components make up the
minting, searching and trading of NFTs.
</p>
<h6>Minting Process:</h6>
<p>
Each NFT must be minted inside a collection, a collection is an issuer that mints only 1 of each asset
type, but can hold multiple NFTs.
</p>
<p>Minting is done through the NFT workshop section on the Sologenic.org platform. </p>
<p>
Each collection has a unique ID, which is the XRPL address of the issuer. E.g.
rwTw6Bm5AXce4PgDnY7HcdAqkSj6DgUXjq
</p>
<p>
This address has the following metadata:
</p>
<pre class="prettyprint">
{
"address":"Address of the issuer",
"minted_by":"Address of the user who minted the nft",
"colllection_uid":"A unique ID representing this collection within Sologeinc",
"colllection_name":"Name of the collection",
"description":"Description of the collection",
"collection_item_count": Total count of items (NFTs) in this collection - Integer,
"nfts":[
{
"currency":"NFT currency code",
"metadata":"ipfs://cid/metadata.json",
"content_type":"NFT content type"
}
],
"minter":"The system that minted the NFT",
"created":"ISO 8601 timestamp"
}
</pre>
<p>Sample collection metadata:</p>
<pre class="prettyprint">
{
"address":"r9HMSHstaQwzEEEuVi8jK4npsXXr7mzuRK",
"minted_by":"ryxnAR3uaBTuVjuz899JLCFHgoYJSk1Yr",
"colllection_uid":"ff0c22c2-434a-45a1-b1b3-b61303d34a38",
"colllection_name":"Animal",
"collection_item_count":3,
"nfts":[
{
"currency":"023031516D5073334E4654000000000000000000",
"metadata":"ipfs://bafybeiawutbfxa6sdaax66alcwcbz2oqvc3axngzyyjk277tjsyayrrfa4/metadata.json",
"content_type":"image/jpeg"
},
{
"currency":"023031516D5363634E4654000000000000000000",
"metadata":"ipfs://bafybeib7qwxoepqad7xwraxk2y2xf6r3gb4xx6ntwees2flav4ty5r5pia/metadata.json",
"content_type":"image/jpeg"
},
{
"currency":"023031516D6637374E4654000000000000000000",
"metadata":"ipfs://bafybeihzd5dwjgsal22lauvebegyxng7umgcasw4mokbdcruepgy6pjxdm/metadata.json",
"content_type":"video/mp4"
}
],
"description":"This is my second collection",
"minter":"https://sologenic.org",
"created":"2021-12-06 16:41:43.000"
}
</pre>
<p>Each minted NFT has a unique currency code with the following format:</p>
<pre class="prettyprint">
"023031" + HEX(ipfs.cid.substring(0, 5) + "NFT") + "000000000000000000"
</pre>
<p>Each NFT has the following metadata that is uploaded to IPFS:
</p>
<pre class="prettyprint">
{
"address": "Address of the issuer",
"minted_by": "Minted by this address",
"name": "The name of NFT",
"category": "category name",
"md5hash": "Unique content MD5 hash",
"content_type": "Content type MIME",
"file_extension": "File extension of NFT",
"description": "Description of the NFT",
"external_link": "External link provided for this NFT",
"properties": {
"property": "value"
},
"stats": {
"property": [
min,
max
]
},
"is_explicit": "true/false",
"standard": "XLS-14d/SOLO",
"blockchain": "XRPL",
"minter": "https://sologenic.org",
"created": "ISO 8601 timestamp"
}
</pre>
<p>Once a collection is minted, the transfers NFT IOUs to the minter and blackholes the issuer address.
</p>
<p>The following transactions are conducted on the issuer accounts:</p>
<p><strong>1st TX:</strong></p>
<pre class="prettyprint">
{
TransactionType: "AccountSet",
Account: ISSUER_ADDRESS,
Fee: FEE,
SetFlag: 8,
Domain: toHex(
"ipfs://" + CID.parse(cid).toV1().toString() + "/metadata.json"
),
}
</pre>
<p></strong>2nd TX:</strong></p>
</br>
(This TX happens for all NFTs in the collection)
</p>
<pre class="prettyprint">
{
TransactionType: "Payment",
Account: ISSUER_ADDRESS,
Destination: MINTER,
Fee: FEE,
DestinationTag: 0,
Memos: [
{
Memo: {
JWT(ES256).sign(
{
metadata: CID.parse(nft.cid).toV1().toString() + "/metadata.json",
issuer: NFT_ISSUER,
minter: NFT_MINTER,
}
},
],
Amount: {
currency: NFT_CURRENCY,
issuer: ISSUER_ADDRESS,
value: 1000000000000000e-96,
},
SendMax: {
currency: NFT_CURRENCY,,
issuer: ISSUER_ADDRESS,
value: 1000000000000000e-96,
},
}
}
</pre>
<p><strong>3rd TX: </strong></p>
<pre class="prettyprint">
{
TransactionType: "SetRegularKey",
Account: ISSUER_ADDRESS,
Fee: FEE,
RegularKey: "rrrrrrrrrrrrrrrrrrrrBZbvji",
}
</pre>
<p><strong>4th TX:</strong></p>
<pre class="prettyprint">
{
TransactionType: "AccountSet",
Fee: FEE,
Account: ISSUER_ADDRESS,
SetFlag: 4,
}
</pre>
</div>
<h5>XLS-20d</h5>
<div>
<p>
Full details: <a
href="https://github.com/XRPLF/XRPL-Standards/discussions/46">https://github.com/XRPLF/XRPL-Standards/discussions/46</a>
</p>
</div>
<h5>Migration From XLS-14d/SOLO to XLS-20d</h5>
<div>
<p>
Upon release of the XLS-20d, Sologenic will allow minters to transfer their collections to the new
standard. A document detailing migration of the XLS-14d/SOLO to XLS-20d will be released as a separate
document.
</p>
</div>
<div class="footer">
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</div>
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